Loan Processor Job Description Template
Our company is looking for a Loan Processor to join our team.
Responsibilities:
- Provides excellent customer service to internal and external customers;
- Communicates discrepancies with title or survey;
- Makes recommendations on whether loan should be approved, denied or restructured;
- Perform daily data entry for all contract packages;
- Resolve any missing documentation and information required to release the contract package to the verification and funding departments;
- Review initial loan approval and work with borrower to gather appropriate documentation;
- Create a loan submission package for the Underwriting department;
- Communicate with other professionals, including attorneys, county clerks and title companies;
- Ensure that approval falls within the established lending guidelines;
- Works in a team environment gathering outstanding conditions and upon receipt performs analysis and prepares files for closing documents;
- Submit files to assigned Underwriter;
- Understand applicable regulations within our industry;
- Ability to work under deadlines;
- Entry level to 2 years of loan processing experience within a banking company or related financial institution required;
- High School diploma/GED and Bachelor’s degree in related technical field or equivalent education/experience.
Requirements:
- Exceptional attention to detail must be organized and have excellent time management;
- Experience working in a broker’s environment and using Encompass as well as BNtouch software;
- Current or previous experience fulfilling the roles of Processor, LOA, Loan Partner, Loan Officer and/or Underwriter;
- Strong attention to detail and accuracy;
- Minimum 3 years mortgage processing experience, 5+preferred;
- In-depth knowledge of the real estate industry and current trends;
- Must have recent experience with Calyx Point;
- Knowledge of Conventional, FHA, VA, USDA and State Bond loan programs and requirements;
- Familiar with Encompass LOS;
- Superior organization skills;
- Proficient computer skills, need to be able to adjust and learn new technologies quickly and with minimal training;
- Experience submitting loans to multiple investors;
- Some college preferred;
- Strong ability to prioritize and multitask without being micromanaged to meet multiple deadlines and a keen sense of urgency;
- We are a small company and need our employees to be flexible with change. We are always trying new things to make the process better for the consumer.